Setting up your first local business can be a daunting thought indeed. In my experience, it’s just a question of preparation and will matter. Once you have planned every step through carefully, you will be so confident that everything has to go right that you won’t make any mistakes.
Where to start? That’s easy, you need an idea. What kind of local business are you going to start, once you know that everything else will fall into place. How about thinking about all the things you are good at and enjoy. If you are good with vehicles, why not try and open your own mechanics workshop, you’re a Rockstar baker? Awesome, lets create a new artisan bakery.
Now that you have narrowed down what you want to be making your money with, let’s do some research for what your competition could be like. You can start really simply by looking for other businesses with the same trade in your area on the internet, don’t be afraid, you can even call them up or visit them, most businesses will even be happy to tell you about their trade, why they like it and why not etc. you can do all this research yourself and won’t need to hire some expensive analyst to waste your money.
Now that we have done our research and know exactly what it is that you want to be doing, why don’t you start your business plan. What kind of assets do you require to get started? Do you need to buy expensive machinery? What level of insurance do you need in order to legally be allowed to carry out your trade in the local area. Once you have done all these little bits of research, you are ready to put your plan together.
Now that you have got a kickass plan ready to go, you will know if you need extra funds in order to start this business or if you can fund the start yourself. Need more money? No problem, as far as I am concerned your options are pretty simple, you can either go to a bank and ask for a business startup loan, you can ask your family for an investment, or you can research if there are startup grants available in the local area that could be applied to your trade.
Since you now have the finances sorted, why don’t we look at some properties for your trade, in my personal experience its best to line up a few business, real estate agents and let them all find you properties at the same time. That really is your biggest chance to find the property you want and need, the one that has the right image and exposure for your trade. Don’t forget to mention important things such as parking required or not etc.
Once you have found your location, it’s time to put all gears into motion. Now it’s going to get really exciting, you can sign all the papers and actually start putting your dream into reality. Let’s start by getting your finances cleared, so that you have the money to go and buy all the machinery that you need for your trade, then you can call up the estate agent and confirm that the location you have previously fallen in love with. And now the most exciting bit, you get to move into your new trade premises, set yourself up and plan your launch day and marketing efforts.
Local Business Marketing
See, was that so hard? You have just started your own local business, all within a few simple steps. Should you have any questions about my guide or just need some help, feel free to get in touch any time.